John Hancock Preferred Income Fund II (NYSE:HPF) Stock Price Passes Below 50-Day Moving Average – Time to Sell?

John Hancock Preferred Income Fund II (NYSE:HPF) shares crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $15.58 and traded as low as $14.42. John Hancock Preferred Income Fund II shares last traded at $14.45, with a volume of 53,749 shares trading hands.

John Hancock Preferred Income Fund II Trading Down 0.8%

The firm’s 50-day simple moving average is $15.58 and its two-hundred day simple moving average is $15.75.

John Hancock Preferred Income Fund II Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be issued a $0.1235 dividend. The ex-dividend date is Friday, September 11th. This represents a c) dividend on an annualized basis and a dividend yield of 10.3%.

Institutional Trading of John Hancock Preferred Income Fund II

A number of institutional investors have recently bought and sold shares of HPF. Arlington Capital Management Inc. purchased a new position in shares of John Hancock Preferred Income Fund II in the second quarter valued at $255,000. Integrated Wealth Concepts LLC purchased a new stake in shares of John Hancock Preferred Income Fund II in the 2nd quarter worth about $26,000. Ameritas Advisory Services LLC purchased a new stake in shares of John Hancock Preferred Income Fund II in the 2nd quarter worth about $384,000. Western Wealth Management LLC acquired a new stake in John Hancock Preferred Income Fund II in the 1st quarter valued at about $66,000. Finally, Kestra Advisory Services LLC grew its stake in John Hancock Preferred Income Fund II by 4.0% in the 1st quarter. Kestra Advisory Services LLC now owns 69,444 shares of the company’s stock valued at $1,084,000 after acquiring an additional 2,700 shares during the last quarter.

John Hancock Preferred Income Fund II Company Profile

John Hancock Preferred Income Fund II (NYSE: HPF) is a closed-end management investment company that seeks to provide a high level of current income, with a secondary objective of capital appreciation. Listed on the New York Stock Exchange, the fund primarily invests in preferred securities issued by U.S. and, to a lesser extent, international issuers. Its diversified portfolio may include investment-grade and below-investment-grade preferred stocks, corporate debt securities, convertible securities and, when deemed appropriate, common equity.

Launched in June 2006, HPF employs leverage through preferred share borrowings and other forms of financing to enhance income potential.